Firm is streamlining mutual fund lineup and reducing fees to deliver enhanced value for clients
IG Wealth management is proposing a host of changes to its product shelf as it seeks to improve its offering for clients.
Effective June 1, the firm said it will change the management fee rates for selected classes of funds:
|
Fund name |
Series |
Management fee |
|
|
Current |
New |
||
|
IG Irish Life Low Volatility Global Equity Class |
A and B |
1.95% |
1.90% |
|
JDSC and JNL |
1.70% |
1.65% |
|
|
U |
0.85% |
0.80% |
|
|
IG Mackenzie Low Volatility Canadian Equity Class |
A and B |
1.85% |
1.75% |
|
JDSC and JNL |
1.60% |
1.50% |
|
|
U |
0.75% |
0.65% |
|
|
IG Aristotle U.S. Small Cap Class |
A and B |
2.00% |
1.85% |
|
JDSC and JNL |
1.75% |
1.60% |
|
|
U |
0.90% |
0.75% |
|
At the close of business on or about June 18, the firm said it will merge the IG Putnam U.S. Growth Fund II into the IG Putnam U.S. Growth Fund, and marge the IG CI Canadian Balanced Fund into IG Mackenzie Mutual of Canada.
On or around the same date, the firm is also expecting to merge the IG Irish Life Low Volatility Global Equity Fund into the IG Mackenzie Global Fund, and the IG Mackenzie Low Volatility Canadian Equity Fund into the IG FI Canadian Equity Fund, subject to approval from regulators and securityholders.
Finally, IG Wealth Management is proposing changes to the investment objectives, strategies, sub-advisors, and names of the following classes, subject to regulatory and securityholder approval:
|
Class |
Fund to invest into |
Fund name |
New sub-advisor |
Expected |
|
IG Irish Life Low Volatility Global Equity Class |
IG Mackenzie |
IG Mackenzie Global Class IV |
Mackenzie Financial |
June 18, 2021 |
|
IG Mackenzie Low Volatility Canadian Equity Class |
IG FI Canadian |
IG FI Canadian Equity Class II |
Fidelity Investments |
June 18, 2021 |
|
IG Aristotle U.S. Small Cap Class |
IG Mackenzie U.S. |
IG Mackenzie U.S. Opportunities Class II |
Mackenzie Financial |
June 14, 2021 |
Where applicable, securityholders on record as of April 5 will be asked to give approval for mergers or objective changes involving their funds at a virtual meeting on June 3.
